Financial Performance - For the fiscal year ended December 31, 2024, the Company reported no revenue, consistent with the previous year [290]. - The net loss for the year ended December 31, 2024, was $6,150,372, compared to a net loss of $707,458 for 2023, representing an increase of approximately 769% [292]. - Operating expenses increased significantly to $5,540,236 in 2024 from $631,322 in 2023, marking an increase of approximately 778% [291]. Cash Flow - Net cash used in operating activities for 2024 was $2,946,512, an increase of approximately 558% from $446,916 in 2023 [295]. - The Company incurred net cash used in investing activities of $123,497 in 2024, compared to net cash provided of $23,582 in 2023, indicating a cash outflow increase of approximately 624% [296]. - Financing activities provided net cash of $3,130,942 in 2024, a substantial increase from $350,000 in 2023 [297]. Financial Position - As of December 31, 2024, the Company had current assets of $157,811 and current liabilities of $1,247,534, resulting in a working capital deficit of $1,089,723 [293]. - As of December 31, 2024, the Company had cash of $63,741 and an accumulated deficit of approximately $10.6 million [299]. Operational Dependency - The Company has not generated any operating revenues to date and continues to incur significant expenses related to its business combination and public company status [288]. - The Company is dependent on obtaining additional working capital funding to continue its operations and execute its development plans [299].
Klotho Neurosciences, Inc.(KLTO) - 2024 Q4 - Annual Report